The Must Read PSA Weekly Research Round-up (week to DD MMM)

REPORTS: Sector Strategy as Covid-19 Reinforces Some Trends, Roadblocks Others / MACRO/MARKET: COVID-19 and Abe’s Red Zone / Japan GDP -1.6% QoQ / TSE’s 1% rule / INDUSTRY INSIGHTS: China mobile gaming spend strong / Smartphone supply chain: The readthrough of Apple’s announcement / Plus additional COMPANY INSIGHTS

The Weekly Comment by Julie Boote

Autos Analyst, Julie Boote, discusses the outlook for EV sales and concludes that the outlook remains positive, despite uncertainties over Covid-19, as government support and climate change concerns push buyers to go electric

Reports / Flash Notes Published This Week: Headlines at a Glance

1. Japan Sector Strategy as Covid-19 Reinforces Some Trends, Roadblocks Others

Company / Sector / Thematic Comments at a Glance

Technology: Consumer Electronics, Gaming

1. Apple (AAPL US): Readthrough from the Readthrough
2. Capcom – Monster Hunter Goes Mobile
3. China Mobile Gaming Spend Strong
4. Switch and PS5 Production Concerns Due to Covid-19

Technology: Electronic Components and Precision

5. NEC’s Smart Street Lighting
6. Fujitsu (6702 JT) Gets 5G Spectrum License

Chemicals / Materials

7. TDK (6762 JT) Looks for Further Growth in FY20

Autos

8. Toyota Stands Strong Amid Global Sales Jitters
9. Update on Covid-19 Production Halts

Auto Parts / Machinery

10. Toyota Industries (6201 JT) and Toyota (7203 JT) Developing Hybrid Batteries
11. Nabtesco (6268 JT): Mixed Results Meeting Eventually Weighs on Share Price

Telecom

12. SoftBank Group (9984 JT) Updates
13. Hikari Tsushin (9435 JT) Takes its Stake in T-Gaia (3738 JT) to 24%

Internet / eCommerce

14. Trend Micro’s (4704 JT) FY19 Earnings Miss but We Remain Positive
15. Mercari Conference 2020

Miscellaneous

16. SRE Holdings (2980 JT) Revises Up
17. Boardroom Tussles / M&A Activity
18. Telecommuting Covid-19 Plays

Macro / Market

19. Japan GDP -1.6% QoQ
20. 1% Rule Looks Set to Go Ahead for 12 Sectors

Market Strategy

21. Sector Strategy as Covid-19 Reinforces Some Trends, Roadblocks Others
22. COVID-19 & Abe’s Red Zone

PSA Company Visits, Tours and Interviews

• Visited: Asahi Kasei (3407 JT), Hitachi Chemical (4217 JT)
• Attended earnings meeting at: Nabtesco (6268 JT)
• Interviewed / Conference Call with: Toyota Ind (6201 JT), Dakin (6367 JT), NGK Spark Plug (5334 JT)

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